Central Bank seeks views on RIA process
The Central Bank is seeking the views of interested parties on how it assesses the impact of its regulatory actions.
The public consultation covers regulatory impact assessments (RIAs), as well as the regulator’s approach to consultation.
The Central Bank stresses that its consultation paper does not introduce new regulatory requirements or amend existing rules, but is focused on the processes and frameworks that support regulatory policy development and communication.
RIAs examine the potential impact of proposed regulations or policies.
‘Strengthening process’
The bank says that the consultation is part of its commitment to ensuring that regulation remains “clear, coherent, and proportionate”.
“Evidence, analysis, engagement and judgement are central to how we develop policy at the Central Bank of Ireland,” said Governor Gabriel Makhlouf.
“This consultation is about strengthening that process: setting out, more clearly and consistently, how we weigh evidence, assess costs and impacts, and reach judgements, so that the regulation we deliver is well-founded and well understood,” he added.
The regulator says that it is interested in hearing from stakeholders across the financial system – industry, civil society, consumers, and the public, as well as policymakers and peers.
The deadline for submissions is 30 September.